MILAN Nov 19 Two Italian private equity funds
expect to conclude talks to invest in a holding company that
indirectly controls Pirelli, people familiar with the
situation said on Monday.
The funds, Investindustrial and Clessidra, would invest
40-60 million euros in Tronchetti Provera's family holding MTP
The financing would enable Pirelli Chairman Marco
Tronchetti Provera to pay back debt, thereby keeping control of
Pirelli, the world's fifth-largest tyremaker with a market
capitalization of 3.96 billion euros.
Pirelli chairman Marco Tronchetti Provera controls the
tyremaker through a complex structure involving three
interlocking holding companies - MTP Sapa, GPI, and the
The accord calls for the creation of a new holding in which
MTP Sapa has 70 percent and the funds have the remaining 30
(Reporting by Stefano Rebaudo, editing Jennifer Clark)